The amount of prize money the tickets will win is still undetermined, according to California Lottery. But the odds aren't especially favorable, at about 1 in 88 quadrillion (that's 88,000,000,000,000,000).

If the odds of winning either Mega Millions or Powerball don't seem very big enough, how about winning them both? The more tickets sold, the more the jackpots grow, leading to more players and. you get the idea.

The store owner said they normally sell 400-500 lottery tickets on drawing days. But officials say with so many tickets being purchased, the likelihood of rollover becomes increasingly slim.

Melissa Labant, a tax policy expert at the American Institute of Certified Public Accountants, said winners should realize that while taxes are initially withheld when prizes are awarded, more money will likely be due at tax time as people suddenly are in up to a 37 percent tax bracket.

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